GLUCOSAMINE MARKET ANALYSIS

Glucosamine is an amino sugar and one of the most commonly produced mono-saccharides synthetically by the hydrolysis of shellfish exoskeleton or fermentation process of grains such as wheat and corn. There are various medicinal uses of synthetic glucosamine. For instance, oral glucosamine is used as a dietary supplement for various health conditions such as joint pain and arthritis. Most commonly marketed preparation of glucosamine include glucosamine sulfate, glucosamine chondroitin, glucosamine hydrochloride, and N-acetylglucosamine. Glucosamine is commonly used with chondroitin for the treatment of symptomatic osteoarthritis of the knee in the individuals.

The global glucosamine market is estimated to be valued at US$ 763.7 million in 2020 and is expected to exhibit a CAGR of 5.20% during the forecast period (2020-2027).

Figure 1. Global Glucosamine Market Value (US$ Mn), 2016-2027

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The increasing prevalence of rheumatoid arthritis is expected to propel growth of the global glucosamine market during the forecast period. For instance, according to the US National Library of Medicine’s report published in 2017, prevalence of rheumatoid arthritis across the globe was 43.3 % in 2017.

Furthermore, key players are focusing on launch and approval of product which is expected to propel growth of the global glucosamine market during the forecast period. For instance, in 2016, TSI Group Co. Ltd. (TSI) launched GlucosaGreenDF, a novel non-shellfish glucosamine branded product line produced by a patent-pending direct fermentation technology, in compliance with international monographs such as USP and the European Pharmacopeia.

Global Glucosamine Market – Impact of Coronavirus (COVID-19)

Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, manifestation of coronavirus (COVID-19) has resulted in more than 72.3 million infected individuals worldwide as of 14^th December, 2020.

Furthermore, COVID-19 has affected almost every market across the world and has also impacted the global glucosamine market in the following ways: by directly affecting the production and demand; by creating disruptions in distribution channels; and by its financial impact on firms and financial markets. Supply chain and manufacturing activities in India, China, and the U.S. have been disrupted due to nationwide lockdowns. Whereas, countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.

Figure 2. Global Glucosamine Market Share (%), By Region, 2020

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North America is expected to hold dominant position in the global glucosamine market during the forecast period owing to research and development activities in the field of glucosamine. For instance, in August 2018, Carlson Lab launched a novel formulation of Carlson Glucosamine & Chondroitin with Methyl SulfonylMethane (MSM), which provides human bone nourishing nutrients in one supplement.

Key Players

Major players operating in the global glucosamine market are Bio-gen Extracts Private Limited, Panvo Organics Pvt Ltd, Pharma Base S.A., CAPTEK Softgel International Inc., TSI Health Sciences, Inc., Cargill, CellMark Chemicals, Andra Medi Pharma Pvt. Ltd, Zhejiang Zhoushan Putuo Xinxing Pharmas Co., Ltd.  (PXPC), JIAXING HENGJIE BIOPHARMACEUTICAL CO.,LTD. , Wellable Marine Biotech Holding Limited, Zhejiang Shinfuda Marine Biotechnology Corp, Spectrum Chemical Manufacturing Corporation and Atlina Life Sciences,  Schiff Nutrition International, Inc., and Golden-Shell Pharmaceutical Co. Ltd.